KUALA LUMPUR: New vehicles sales surged 41 per cent or 19,912 units year-on-year to 68,465 units in July 2018, according to the Malaysian Automotive Association (MAA).
MAA said the sales volume recorded volume recorded in July 2018 was the second highest monthly total industry volume (TIV) achieved in the history of the local automotive industry, after 69,371 units in December 2015.
Month-on-month, new vehicles sales was six per cent or 3,963 units higher than June 2018 due to reduction in prices following the zerorisation of Goods and Services Tax (GST).
Year-to-date, vehicles sales increased 7.6 per cent or 25,173 units higher in the first seven months of 2018 as compared to the same period a year ago.
In terms of production, the industry produced 25.5 per cent higher at 55,164 units in July 2018 as compared to 43,952 units in July 2016.
Year-to-date, new vehicles production stands at 336,111 units or 12.3 per cent higher than the same period recorded last year.
MAA said new vehicles sales volume for August 2018 is expected to be maintained at July 2018 level due to reduction in prices following the zero-rated GST.